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Oil prices fluctuate amid Middle East tensions and Trump's Iran threats; natural gas struggles near $2.80 support.

Market News
06 Apr 2026
FXEmpire
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Neutral
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Oil prices are volatile as traders react to escalating tensions in the Middle East and U.S. President Trump's threats against Iran, including potential airstrikes targeting critical infrastructure. WTI oil is trying to hold above $112, with potential to test $115 and beyond if momentum continues. Brent oil is attempting to settle above $110, with resistance near $119 that could trigger a strong rally. Meanwhile, natural gas remains pressured near the $2.75-$2.80 support level, focusing on domestic demand despite geopolitical risks. The situation remains uncertain as Iran rejects ceasefire proposals and insists on control over the Strait of Hormuz, a key oil transit route.

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